By Warren McNeil

I was showing houses tonight and I couldn’t believe how cold it was outside. Are we in the Yukon? What’s up with the cold already. I might need to dig out the parka and a cap! The weatherman even said we might see trace snowflakes in the next day or two. This has to stop. The gas and electric companies must loving this because they get to enjoy another month of profit from people using their heating systems a bit longer. But I digress.

Mostly everyone of my clients have been asking me what the market is like right now. They’re asking me because they are hearing from various sources that there are changes in the market. This could be spurred by the US market but I think it is just how things are right now. I’m not an expert in this area but I do read alot and I am always trying to stay on top of the current real estate market. Especially how it effects the area of Kitchener and Waterloo. Both CREA and Re/Max said that the market was going to balance out this year. I am already seeing how some areas of Kitchener-Waterloo are softening. It seems more like a balancing out. Some houses go up for sale and sell right away while others are take a little longer to sell. According to the monthly stats, the average sale price for a single-detached home in Kitchener is around 295,000 while the average days on market is approximately 43 days. The average list to sale price ratio is 98.3. These stats show that our area is still strong and should not really be effected as much as other areas of Canada. In other words, houses are still appreciating in value and they are selling in a decent amount of time for close to asking price. What more could you want. It would be great if sellers could get more money for their houses when they sell and buyers can get a best deal when they buy a house. Unfortunately that can’t happen at the same time. Something has to give.

See Also:
Canada’s housing market expected to cool off
Home Sales will fall 11.5% this year realty group predicts

Thanks for reading!

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